December 4, 2021

Great Indian Mutiny

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Paytm will accept Bitcoin if India legalizes cryptocurrencies through Investing.com

© Reuters.

By Laura Sanchez

Investing.com – Paytm, an Indian online payment service, is considering accepting whether Indian authorities can remove the regulatory uncertainty surrounding the acceptance of cryptocurrencies.

“Bitcoin is still in the gray area of ​​regulation in India,” explains Paytm’s CFO Madhur Deora in an interview. Bloomberg. “Currently, Paytm does not accept bitcoins. If this ever becomes completely legal in the country, the offers we can start with may be clear.

The Government of India is considering adopting cryptocurrency law, but the Reserve Bank of India (RBI) has been widely criticized and continues to argue for its ban.

As Paytm prepares for an estimated $ 2.5 billion initial public offering (IPO) next week, Deora’s comments have come.

Launched over a decade ago as a mobile device recharge platform, Paytm has grown rapidly since private transportation company Uber (NYSE 🙂 added it as a quick payment option. Since then, Paytm has diversified into services including insurance and sales, airline ticketing and financial services.

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